Fiserv, Inc. (FISV) Shares Sold by Covington Investment Advisors Inc.
Covington Investment Advisors Inc. cut its position in Fiserv, Inc. (NASDAQ:FISV) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,315 shares of the business services provider’s stock after selling 370 shares during the period. Fiserv comprises approximately 2.1% of Covington Investment Advisors Inc.’s holdings, making the stock its 6th largest position. Covington Investment Advisors Inc.’s holdings in Fiserv were worth $5,225,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the company. First Manhattan Co. increased its position in shares of Fiserv by 14.9% in the first quarter. First Manhattan Co. now owns 1,034 shares of the business services provider’s stock worth $102,000 after buying an additional 134 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Fiserv during the first quarter worth approximately $131,000. Morgan Dempsey Capital Management LLC increased its position in shares of Fiserv by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 1,480 shares of the business services provider’s stock worth $171,000 after buying an additional 33 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Fiserv by 217.2% in the fourth quarter. Bessemer Group Inc. now owns 1,491 shares of the business services provider’s stock worth $158,000 after buying an additional 1,021 shares in the last quarter. Finally, University of Texas Investment Managment Co. purchased a new position in shares of Fiserv during the first quarter worth approximately $184,000. Institutional investors and hedge funds own 88.03% of the company’s stock.
Fiserv, Inc. (FISV) traded up 0.06% during trading on Tuesday, hitting $125.27. 79,365 shares of the stock traded hands. The company’s 50 day moving average price is $122.33 and its 200 day moving average price is $114.64. The company has a market cap of $26.60 billion, a P/E ratio of 31.29 and a beta of 0.81. Fiserv, Inc. has a 12 month low of $92.81 and a 12 month high of $126.28.
Fiserv (NASDAQ:FISV) last issued its earnings results on Wednesday, April 26th. The business services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. Fiserv had a return on equity of 40.28% and a net margin of 15.95%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the company earned $1.06 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that Fiserv, Inc. will post $5.13 EPS for the current fiscal year.
A number of brokerages have commented on FISV. Robert W. Baird reiterated an “outperform” rating and issued a $134.00 target price (up from $128.00) on shares of Fiserv in a report on Wednesday, June 14th. Wedbush reiterated an “outperform” rating and issued a $146.25 target price (up from $115.00) on shares of Fiserv in a report on Tuesday, June 6th. Vetr upgraded shares of Fiserv from a “sell” rating to a “buy” rating and set a $121.50 target price for the company in a report on Monday, April 3rd. Guggenheim began coverage on shares of Fiserv in a report on Friday, March 31st. They issued a “neutral” rating and a $118.00 target price for the company. Finally, Monness Crespi & Hardt boosted their target price on shares of Fiserv from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, April 3rd. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $119.25.
In other news, insider Jeffery W. Yabuki sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $120.19, for a total transaction of $240,380.00. Following the sale, the insider now owns 337,151 shares of the company’s stock, valued at approximately $40,522,178.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffery W. Yabuki sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $116.38, for a total value of $1,745,700.00. Following the sale, the insider now directly owns 339,151 shares in the company, valued at approximately $39,470,393.38. The disclosure for this sale can be found here. Insiders have sold a total of 34,000 shares of company stock worth $4,057,530 in the last three months. Corporate insiders own 1.90% of the company’s stock.
Fiserv Company Profile
Fiserv, Inc is a provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, such as electronic bill payments, transaction processing, account-to-account transfers, and person-to-person payments; Internet and mobile banking systems, and related services, including document and payment card production and distribution, and lending and risk management products and services.
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